What’s the difference between a fee waiver, a fee rebate, a discount, and a refund?

Scotiabank’s accounts have flexible pricing to help you save money on monthly account fees via waivers, rebates or discounts.

  • Waiver: you won’t see the monthly account fee on your statement
  • Rebate: you will see the monthly account fee charged at statement end and then rebated within 10 days (about 1 and a half weeks) of the following month
  • Discount: if you’re eligible for a discount on your monthly account fees (like a senior’s discount)–you’ll see the regular monthly account fee charged at the end of the month and a credit on the same day for your discount
  • Refund: a one-time, manually processed credit to your account
Last updated January 10, 2023